CryptoDelegate Blog

Today we announce big news! We will PAY you your full cycle delegation fee BEFORE the blocks are even baked. No longer do you have to wait three weeks for your delegation to activate and another 3 weeks to get paid. Once you delegation becomes recorded in the cycle snapshot, your account will get credited for the entire cycle BEFORE the blocks are even baked.

This means you can get paid for a full cycle as fast as 2 days after delegating your Tez. This is 40 days faster than our competition who wait for 20 days simply to activate your delegation and another 20 days to pay

TIP: Write EVERYTHING down on paper as you are going through the process. Seed words, passwords, activation codes...everything. NEVER clear your browser cookies without first making 100% sure that you have all of your wallet information written down and you have tested that you can restore your wallet using that information.

**This is not advertising or endorsement of any wallet. We are not legally able to endorse any wallet. Use this information at your own risk.**

Unfortunately we had to make these instructions very generic due to legal liability with giving instructions about specific wallets even if we do not specifically endorse those wallets.

Generic Wallet Instructions: (Be careful what wallet you trust)First, you need to download and install whatever wallet you choose, whether it be desktop, phone, or chrome extension.

There will likely be an option for importing ICO Wallet or restoring wallet. Input the details of your ICO contribution and the information the Foundation sent you. This includes Seed Words, Email, Password, and activation code. This will create an account that starts with "tz1..." You should see the number of Tez that aligns with your ICO expectations. You can not delegate with this "tz1..." account. You then need to create a "KT1..." account and transfer your Tez into this account. From that account you can assign your Delegate.

**Again, be very careful what wallet you choose. Like the foundation warned, there will be a LOT of phishing attempts to steal your hard earned Tez. Be Careful! **

​Please proceed to the next blog post to learn how to Delegate to CryptoDelegate

We currently estimate that payments to you will be approximately 5% annual growth. (see below for details)

At CryptoDelegate, we pay our users a rental fee to rent your unused Tezos baking stake. This is the same concept as a farmer renting your unused farmland to grow crops. You can also think of it as a Baker renting your unused oven to bake bread. You are the Tezos stake landlord, we rent from you. Sit back and let us do the work.

If the total Tezos Blockchain actual baking annual inflation is 100% optimized at 5.51%, this would equate to CryptoDelegate having the goal to pay you an estimated rental fee of approximately 5% annual growth on your delegated Tezos Stake.

This goal may or may not be achieved due to unforeseen variables, but this goal is what we strive for. By using this payment method, CryptoDelegate is able to dramatically increase your earning stability and predictability. This method of calculation makes our client's rate of return much more stable since it relies much less on daily baking fluctuations.

Another way to look at it is: Payout % = Global Inflation Rate * (9/10)

Please Note: Once we get to the point where the amount of delegated Tez exceeds our ability to host bonds, we can no longer accept new customers. You may not earn anything if you have delegated to us too late and our bond is insufficient to cover your delegation. You will then be placed into a waitlist until either our bond increases or someone else leaves our delegation service.

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Please Note: CryptoDelegate.com and CryptoDelegate LLC is not a crypto token exchange. We do not provide any method of purchasing, selling, or trading any type of blockchain coins or tokens. We also do not give any financial advice or recommendations. Invest in crypto currencies at your own risk. Our payment system is on a closed loop. This means we do not have any means of receiving or transferring tokens from a client to a third party or visa versa. Payments can only be sent to the original delegator. We do not store crypto tokens on behalf of our customers. Any tokens that we generate and hold in our hardware wallets is property of CryptoDelegate. Token ownership transfer happens immediately upon the Tez tokens being sent and received from CryptoDelegate to the client. If you wish to transmit crypto-tokens to a third party, you must send directly from your personal wallet or use some other method.